The Best Time to Buy Your New Car and Why

5/3/2017

Just like any other purchase, timing is everything when it comes to buying a new set of wheels. A major part of your car search likely revolves around make, model and style, but the timing of your new purchase can have a big impact on your pocketbook. If your need for a new car isn’t urgent, waiting a few months can potentially pay off! So, when is the best time to buy a car?

At The End Of The Month

Salespeople are often eager to close deals at the end of the month to meet their monthly quota. As salespeople get anxious to make that number, you’ll likely see larger discounts applied at the end of the month. Brush up on your negotiating tactics and head into the dealership to make a deal!

When New Models Are On Their Way In

Out with the old and in with the new! When a new vehicle model comes out, dealers are eager to move the old model off their lots. The new, incoming model likely has new bells and whistles--it might feature more leg and hip room, for example. It may get all the attention, but the outgoing model is a perfectly capable car. By clearing out the old models, the dealership is making room for the incoming, newer models. Typically, you’ll see new car models start arriving to dealerships in the late summer or early fall. According to TrueCar, which analyzes car prices nationwide, August is the best month to purchase your new vehicle.

At the End Of The Day

An eager salesperson won’t let an interested buyer walk away just because it’s close to quitting time. And because closing time is near, they might be more apt to give you a better deal to move another car off the lot. Take a cruise around the lot and pinpoint which vehicle you want, then swing by the dealership just before they close for the day!

Black Friday

Most shoppers are focused on holiday gifts on Black Friday. But big box retailers aren’t the only ones taking advantage. If you’re in the market for a new car, Black Friday might just be the day to make your purchase. With the end of the year near, dealers are likely working to clear out old inventory ahead of the New Year. Black Friday also falls toward the end of the month, so they’re likely working overtime to meet their sales quotas for the month. Skip the crowded mall and make a trip to the showroom on Black Friday!

Late December

Dealers are still working to add to their annual sales total and hit that month-end quota. With weather being less than favorable this time of year, buyers aren’t out test-driving or buying cars and inventory is likely high. The end of the year is a great time to find a deal on your dream car.

Protect What Matters

There are a lot of options for when to buy a new car. But you can rest assured that, no matter what options are out there, when you choose auto insurance with Farm Bureau Financial Services, you are choosing a company that offers a range of options to help keep you safe, both on the road and off. Contact your agent to learn more.

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